1. Field of the Invention
The present invention generally relates to financial transaction systems, and more particularly to conducting a financial transaction using a mobile communication device.
2. Brief Description of the Related Art
Today, financial transactions systems (FTS) are generally well known in the art and can include both wired communication systems and wireless communication systems. Typically, these systems include one or more payment devices and a payment terminal for processing financial transactions. The payment devices can include credit, debit, prepaid and smart cards, as well as cellular phones, personal digital assistants (PDAs), and other types of devices.
Global Positioning Systems (GPS) are also becoming increasingly available. Typically, these systems are used for navigation purposes and include hand-held receivers that can lock on to wireless signals to calculate a 2D position (latitude and longitude) and track movement. In the past, tracking individuals with GPS technology required purchasing special and expensive hardware and software. Today, various solutions are available through cellular service providers. For example, GPS-enabled cell phones are becoming more prevalent in the marketplace.
With cellular technology providing consistent communication capabilities and the use of GPS-based devices becoming more accessible and prevalent, there is a need in the art for techniques for utilizing GPS-based capabilities in financial transactions.